Founder's pie or founders crumble

Hey friends 👋Ever wondered why investors ghost you after seeing your cap table? This episode might have the answer.We dive into the messy world of founder equity splits and why most of them are recipe for disaster. From the CEO hoarding 60% while the CTO builds everything, to the “fair” 50-50 splits that avoid hard conversations, to advisors walking away with 15% for making a few intros.Key insight: “Equity is about future value, not past value” - and most founders get this backwards.We break down:* Why contribution-based splits beat “vibes-based” decisions* The vesting cliff mistake that kills deals* What your cap table signals to Series A investors* Real examples of equity splits that make investors runPlus, we play “Founder’s Pie or Founder’s Crumble” - our game analyzing startup cap tables and predicting their Series A fate.Frivolous Thoughts: JDM discovers a drag king named Oliver Clothes Off on Bake Off (seriously).— Cameron and JDM This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit zerototraction.substack.com